What’s the minimum credit score for an FHA loan?

FHA guidelines allow lower credit scores than most conventional programs. With qualifying credit you may be eligible for the minimum 3.5% down payment; lower scores can still qualify with a larger down payment. We’ll confirm where your file lands.

How does FHA mortgage insurance (MIP) work?

FHA loans carry an upfront mortgage insurance premium (which can be financed into the loan) plus an annual premium paid monthly. Depending on your down payment, MIP may remain for the life of the loan — refinancing into a conventional loan later is the most common way to remove it.

Can I use an FHA loan to buy an investment property?

No. FHA loans are for primary residences only. However, you can purchase a 2-4 unit property with an FHA loan if you live in one of the units — rental income from the other units may help you qualify.

Can gift funds cover my down payment?

Yes. Your entire FHA down payment can come from gift funds from family or other approved sources, which makes FHA a popular first-time buyer path.

FHA Loan | Elevate Mortgage

FHA Loan

Government-backed, low down payment, accessible

FHA loans are insured by the Federal Housing Administration and designed for borrowers with lower credit scores or limited down payments. A popular choice for first-time homebuyers.

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FHA loans are insured by the Federal Housing Administration and designed for borrowers with lower credit scores or limited down payments. A popular choice for first-time homebuyers.

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Key Advantages

Why Choose a FHA?

Here's what sets this loan product apart and who it works best for.

Low Down Payment

One of the lowest minimum down payments available — typically 3.5% with qualifying credit.

More Flexible Credit

FHA guidelines allow lower credit scores than most conventional programs.

Higher DTI Allowed

FHA lenders may accept higher debt-to-income ratios with compensating factors.

Gift Funds Accepted

Your down payment can come from gift funds from family or approved sources.

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Purchase Calculator

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Home Price$500K

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Down Payment10%

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Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.

Eligibility

Qualification Requirements

General guidelines for FHA Loan eligibility. Requirements vary by lender and scenario.

Requirement	Guideline
Typical Minimum Credit Score	580 (3.5% down) / 500 (10% down)
Typical Minimum Down Payment	3.5%
MIP Required	Upfront + annual mortgage insurance premium
Property Type	Primary Residence only
Debt-to-Income	Higher ratios possible with compensating factors

These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.

FAQ

Frequently Asked Questions

Common questions about FHA Loan loans.

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FHA-approved lender. Not affiliated with or acting on behalf of HUD/FHA.

West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

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Related Loan Products

Explore other products that may complement your strategy.

Conventional Loan

The flexible, widely-used home loan

Conventional loans conform to Fannie Mae and Freddie Mac guidelines and cover most purchase and refinance scenarios for primary homes, second homes, and investment properties.

Learn more

VA Loan

Zero down. No PMI. You’ve earned it.

VA loans are one of the most powerful mortgage benefits available to eligible veterans, active-duty service members, and surviving spouses. No down payment and no PMI.

Learn more

HELOC & Home Equity

Tap your home equity without touching your first mortgage

A Home Equity Line of Credit lets you draw funds as needed during the draw period, paying interest only on what you use — while your existing first mortgage stays exactly as it is. Great for home improvements, debt consolidation, or a financial safety net.

Learn more